U.S. equity futures traded mixed amid concerns that strong consumer spending might fuel inflation.
Stronger than expected retail sales, along with profits from major retail companies, signaled that consumer prices are inflating. Sales jumped 1.7% in the month of October.
|S&P 500 Futures||4,696.75||0.25||0.01%|
U.S. Dollar and Treasuries
The yield on the 10-year Treasury fell slightly. The dollar remained stable against a basket of major currencies.
|U.S. Dollar Index (DXY):||95.82||-0.1||-0.10%|
|U.S. 1 Year Treasury Bill||0.165%||0.008||0.158%|
|U.S. 5 Year Treasury Note||1.267%||-0.002||1.269%|
|U.S. 10 Year Treasury Note||1.637%||-0.003||1.640%|
Stocks To Watch
Shares of Tesla bounced back further, recovering some of their losses since Elon Musk tweeted about selling again.
Target reported strong earnings on Wednesday, a day after Walmart. Earnings per share were up 1.1% to $2.82. Moreover, sales were up 8.6% to $24.58 billion. However, Target’s shares still dropped as investors were concerned about supply chain issues.
Shares of Boeing were up after the company’s executive said they were getting close to resuming deliveries of the 787 Dreamliner.
Commodities To Watch
|WTI Crude Oil||$80.27||-0.61%|
|Brent Crude Oil||$82.01||-0.51%|
The global crypto market cap is $2.64T, a 0.18% increase over the last 24 hours. Bitcoin’s dominance is currently 43.40%, a decrease of 0.13% in the same period.